Maplebear Inc. (NASDAQ:CART) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Maplebear Inc. (NASDAQ:CART - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-eight research firms that are currently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $50.61.

CART has been the topic of several analyst reports. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Loop Capital dropped their price target on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. JMP Securities restated a "market outperform" rating and set a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th. Wedbush decreased their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $55.00 price target on shares of Maplebear in a report on Wednesday, February 26th.

Maplebear Trading Down 0.4%

Shares of CART stock opened at $43.61 on Tuesday. The company's fifty day moving average price is $40.66 and its 200-day moving average price is $43.52. The stock has a market cap of $11.45 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. During the same quarter last year, the company posted $0.43 EPS. Maplebear's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,165 shares of company stock worth $1,541,785. Company insiders own 26.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CART. Janney Montgomery Scott LLC raised its position in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after buying an additional 16,267 shares during the last quarter. Cherry Creek Investment Advisors Inc. purchased a new stake in Maplebear in the 4th quarter worth $235,000. US Bancorp DE boosted its holdings in shares of Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company's stock valued at $542,000 after purchasing an additional 2,387 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of Maplebear during the fourth quarter valued at about $234,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after purchasing an additional 2,409 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.

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